What is consolidation area in SAP FIN-SEM-BCS - Business Consolidation?

SAP Term: consolidation area

• Component: FIN-SEM-BCS

• Component Name: Business Consolidation

• Description: Subset of the characteristics and key figures available in the data basis. A consolidation area is characterized by its methods, tasks and breakdown categories. Example: Consolidation areas for statutory consolidation and management consolidation: You create two consolidation areas, each with its own specific data models, which, however, are based on the same InfoCube. The two consolidation areas are separated by the characteristic "Dimension".

Smart SAP Assistant

• Key Concepts: 
  A consolidation area is a logical grouping of companies in SAP Business Consolidation (FIN-SEM-BCS). It is used to manage the consolidation process of multiple companies and to store the consolidated financial data. The consolidation area contains all the necessary information for the consolidation process, such as the company structure, the consolidation rules, and the consolidation data. 
  
  How to use it: 
  To create a consolidation area, you must first define the company structure. This includes defining the parent company and its subsidiaries, as well as any other companies that need to be included in the consolidation process. Once the company structure is defined, you can then define the consolidation rules. These rules determine how the consolidated financial data will be calculated and reported. Finally, you can enter the consolidation data into the consolidation area. 
  
  Tips & Tricks: 
  When creating a consolidation area, it is important to ensure that all of the necessary information is included. This includes not only the company structure and consolidation rules, but also any additional information that may be needed for reporting purposes. Additionally, it is important to ensure that all of the data entered into the consolidation area is accurate and up-to-date. 
  
  Related Information: 
  For more information on SAP Business Consolidation (FIN-SEM-BCS), please refer to SAP's official documentation at https://help.sap.com/viewer/product/FIN_SEM_BCS/latest/en-US.